Technically gas is still $.20/gallon.
How is this possible?... you might ask. Well here you go. Prior to 1965 our coins (dollars, half-dollars, quarters, and dimes) contained actual silver, 90% silver actually. For example, in 1950 gasoline was approximately $.20/gallon so you could take the two dimes pictured above (1950) and buy a gallon of gas. Today, you could take those same two 1950 dimes and buy a gallon of gas as well. But how?...you ask. Gas is like $4.00/gallon right??!!!
Those dimes (prior to 1965) contain 2.25 grams of silver each. At today's market value, 2.25 grams of silver is worth around $2. So $2 of silver times 2 dimes = $4. So the problem is not gasoline but rather the buying power of our currency. See, what used to be our money has become our currency, meaning that money is something that has actual value whereas currency is something used like money but has no value in itself. Before 1965 we had money. Today we have currency that we are forced to use as money, the value of which is manipulated by a bank known as the Federal Reserve Bank. Congress gave this authority to the FED. And YOU gave Congress the authority to allow the FED to do this.
So the next time we want to blame someone for high gas prices, let's blame ourselves for letting Congress authorize a bank to manipulate the value of our "money."
